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The sports industry is one of biggest developing industries in the world. Initially, sports was a part of military training to develop mental and physical skills. These days, more & more people are increasingly participating in sports & recreational activities due to health awareness and sports management. Sports as an activity helps consumers gain benefits such as better physical and mental health, teamwork, responsibility, and positive self-image. Consumers are spending progressively on sportswear and sports equipment along with leisure clothing and accessories. As a result of developments in the sports industry, various associations and federations have made it compulsory to wear sports equipment as per the need of the sport. The equipment offers protection from injury while playing sports.

Increasing interest in sports and rise in disposable income are fuelling the growth of the global sports equipment and apparel market. Various governments have invested in games and sports which will increase the participation of players and eventually drive the market. Rise in demand for performance efficient sports products which are strong and lightweight is expected to boost the growth of the global sports equipment and apparel market. Introduction of new technologies such as AI chatbot, augmented and virtual reality applications, and voice controlled devices will help players by improving their performance and encouraging them to opt for sports. Other trends in the market include sponsorship for sports events to motivate young players and more number of countries adopting sports as a tool for physical development of its people. Rise in number of tournaments and matches such as FIFA, IPL, and World Cup is expected to provide the opportunity to young players, thus driving the market for sports equipment and apparel. Manufacturers are innovating products to make them more comfortable and lightweight such as kneepads, helmets, etc. The sports equipment industry is highly fragmented due to a number of sports played across the globe; various types of equipment are needed according to the sports. Online channel of distribution has increased the sales of sports equipment and apparels. Consumers tend to buy from online stores due to increasing penetration of the internet and heavy discounts from these stores.

There are some restraints which can affect the demand for sports equipment and apparel products. This includes increasing inclination of consumers toward other leisure activities such as watching movies, virtual reality gaming, and music festivals. Furthermore, some of the sports equipment are costly and unaffordable for most people. To increase the level of protection while playing the sport, some manufacturers may increase the weight of the equipment, which can cause discomfort to the player.

The global sports equipment and apparel market can be segmented based on product type, gender, distribution channel, and region. On the basis of product type, the sports equipment and apparel market can be classified into equipment, apparel, and footwear. Further, equipment and apparel can be classified into playing equipment (balls, bat and sticks, racquets, skates, and others (skateboard, flying disc, wickets, etc.) and protective equipment (helmet, shin guard, shoulder and elbow pads, gloves and others (mouth guard, kneepads, etc.) and apparel (t shirts, track pants, tights, shorts, and others (jerseys, jackets, etc.). On the basis of gender, the global sports equipment and apparel market can be classified into men, women, and kids. In terms of distribution channel, the sports equipment and apparel market can be classified into online and offline (large format stores, specialty stores, and small retail players). Based on region, the sports equipment and apparel market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Key players in the global sports equipment and apparel market are Adidas AG, Amer Sports Corporation, ASICS Corporation, Decathlon S.A., New Balance, Inc., Nike, Inc., Puma SE, Sports Direct International plc., Under Armour Inc. and V.F. Corporation

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Sports Equipment Apparel Market

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